The S&P/ASX 200 Index (ASX: XJO) is ending the week on a disappointing note. In afternoon trade, the benchmark index is down 0.7% to 8,209.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
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Harvey Norman Holdings Ltd (ASX: HVN)
The Harvey Norman share price is up 3% to $5.24. Investors have been buying this retail giant's shares after responding positively to its half year results. Harvey Norman posted a 6.6% increase in revenue to $2.29 billion and a 41.2% jump in reported profit before tax to $400 million. Management also spoke positively about the future thanks to the AI megatrend. It said: "The continuing innovation and mainstream adoption of Next Gen-AI PCs and devices are expected to drive further sales growth in the Home Appliances, Television, Audio, Mobile & Computer Technology categories through FY 2025 and beyond."
Life360 Inc (ASX: 360)
The Life360 share price is up 6% to $23.05. This has been driven by the release of a stronger than expected FY 2024 result. Total revenue was up 22% to US$371.5 million and adjusted EBITDA was up 121% to US$45.5 million. The latter was ahead of its guidance range of US$39 million to US$42 million. Looking ahead, management is guiding to adjusted EBITDA of US$65 million to US$75 million in FY 2025. Commenting on Life360's guidance, analysts at Goldman Sachs said: "FY25 guidance came broadly in-line with VA consensus expectations while we note that initial FY guidance is typically conservative with an expectation of upgrades as the year progresses."
PEXA Group Ltd (ASX: PXA)
The PEXA Group share price is up 7% to $12.19. This follows the release of the property settlement technology company's half year results. PEXA revealed that its revenue was up 25% to $202.5 million and its EBITDA increased 25% to $73.2 million. In light of its strong financial performance, the company announced a $50 million on-market share buyback.
TPG Telecom Ltd (ASX: TPG)
The TPG Telecom share price is up 3.5% to $4.68. This morning, the telco giant released its FY 2024 results and reported a 1.5% increase in service revenue to $4.7 billion. This was driven by a strong performance in mobile services, which generated a 5.4% increase in revenue to $2.27 billion. The company's underlying EBITDA increased 3.4% to $1.99 billion, which was in line with its guidance. Looking ahead, management is guiding to EBITDA of between $1.95 billion and $2.025 billion in FY 2025, assuming no major shifts in operating conditions.
